The cryptocurrency study from Cambridge University is one of a kind and makes for some interesting reading.

The studies forewords describe “The findings are both striking and thought-provoking. First, the user adoption of various cryptocurrencies has really taken of, with billions in market cap and millions of wallets estimated to have been ‘active’ in 2016. Second, the cryptocurrency industry is both globalised and localised, with borderless exchange operations, as well as geographically clustered mining acivities. Third, the industry is becoming more fluid, as the lines between exchanges and wallets are increasingly ‘blurred’ and a multitude of cryptocurrencies, not just bitcoin, are now supported by a growing ecosystem, fulfilling an array of functions. Fourth, issues of security and regulatory compliance are likely to remain prevalent for years to come.” original source

Key findings of the study found:

  • There are between 5.8 million and 11.5 million wallets that are estimated to be currently ‘active’
  • At least 1,876 people are working full time in the cryptocurrency industry, although the actual figures are over 2,000 when other factors are considered.
  • The exchanges sector employs the most people and has the highest number of operating entities
  • Only 35% of large exchanges hold government licences, where 52% of smaller exchanges hold a formal government licence
  • An average of 17% of budget is spent on exchange security
  • Publicly known mining facilities are geographically dispersed, however a significant concentration can be observed within certain Chinese provences

crypto-geographic usage

A more in depth summary of the key findings from the study can be found at, Key Findings From Cambridge Cryptocurrency Study.


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